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>> right now, susie, the fiscal cliff talks are clearly the item dejure for the stock market. i think most people expect exactly what eric miller was talking about from the fed. and bern bueno ben bernanke hasn transparent and telling people well in advance what he is going to do. the $85 billion should continue building up for our taxpayers balance sheet. >> susie: how does all of this play out in the markets. all of the bond buying, companies are still holding off from hiring and spending, and now the risk, possibly of a recession. how does it play out in the markets for 2013? >> what has happened, with all of this cash going into the market -- into the economy, not only from the u.s. fed, but from europe, from the central bank there, as well as from china, don't forget, so we've had this liquidity which has taken asset prices with the stock market and the bond markets, pricing it way up, it is actually helping housing after a long wait. moving into the future, there will be some reduction in really the fear that people have. it is not only a lack of confidence, but it is a
>> right now, susie, the fiscal cliff talks are clearly the item dejure for the stock market. i think most people expect exactly what eric miller was talking about from the fed. and bern bueno ben bernanke hasn transparent and telling people well in advance what he is going to do. the $85 billion should continue building up for our taxpayers balance sheet. >> susie: how does all of this play out in the markets. all of the bond buying, companies are still holding off from hiring and...
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Dec 14, 2012
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cliff talks. there are now just 18 days before the tax hikes and spending cuts that make up the cliff take effect, and today, there were few signs of progress. as darren gersh reports, the tone of the talks, if anything, is getting worse. >> reporter: house democratic leader nancy pelosi may just have a second career as a stock analyst. her commentary on the markets today was dead on. >> so far, they trust that we would not be so stupid as to go over a cliff. >> reporter: but pelosi made clear what everyone knows-- time is running out to reach a deal by christmas >> we really have to come to some agreement in the next couple of days or the very beginning of next week for us to have engineered our way to a solution. >> reporter: the fiscal cliff is really a negotiation between two men, and one of them today was not sounding very happy. house speaker john boehner brought out the charts to make his case. >> here we are at the eleventh hour, and the president still isn't serious about dealing with thi
cliff talks. there are now just 18 days before the tax hikes and spending cuts that make up the cliff take effect, and today, there were few signs of progress. as darren gersh reports, the tone of the talks, if anything, is getting worse. >> reporter: house democratic leader nancy pelosi may just have a second career as a stock analyst. her commentary on the markets today was dead on. >> so far, they trust that we would not be so stupid as to go over a cliff. >> reporter: but...
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we continue our focus on the fiscal cliff, we talk with maya macguineas, of "fix the debt", as her group meets with lawmakers to talk tax and health care reform. also tomorrow, toll brothers reports earnings, and pandora, the internet radio site is also out with quarterly results. and finally tonight, we want to remind you about a special guest on "n.b.r.," later this week. "n.b.r." founding co-anchor, paul kangas will join us on thursday night, december 6. we'll talk about the markets, and he'll answer some of your questions. that's thursday, december 6. you can submit your questions on facebook or twitter, at "bizrpt." >> tom, the questions are just flowing in, we have enough to fill a half hour with paul. so i think it's going to be really a lot of fun. >> tom: it will be. lots of questions about stock market technology. one asking paul, will the dow hit 8,000 or 18,000. also some maritime matters, what sailor paul has done throughout his career and a little bit of conversation about the boat business maybe. >> susie: yeah, he served in the coast guard. we have lots to talk with paul
we continue our focus on the fiscal cliff, we talk with maya macguineas, of "fix the debt", as her group meets with lawmakers to talk tax and health care reform. also tomorrow, toll brothers reports earnings, and pandora, the internet radio site is also out with quarterly results. and finally tonight, we want to remind you about a special guest on "n.b.r.," later this week. "n.b.r." founding co-anchor, paul kangas will join us on thursday night, december 6. we'll...
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darren gersh, nbr, washington. >> susie: investors will beor mn those fiscal cliff talks, and they will also be studying tomorrow's importa")jé:0@6cj& but josh feinman says the november numbers won't give an accurate picture of the labor market. he's chief economist at d.b. advisors. >> reporter: hi, josh, so you're talking about distortions in that report. tell us more. >> yes, hi, susie. i think that the hurricane sandy may distort the numbers. we've seen it in some of the other high frequency data in the last couple of weeks. keep in mind tomorrow's labor market report will report on a snapshot of the labor market taken in the middle of last month. and that's when the hurricane and its aftermath were having their effects. >> so the consensus numbers from a survey of economists, they're expecting american businesses added 110,000 jobs it to their payroll. the unemployment rate staying around 7.9%. does that sit right with you. is that what you are seeing? >> probably somewhere around that maybe a little less. one of the problems is it is hard to gauge exactly what the impact of the s
darren gersh, nbr, washington. >> susie: investors will beor mn those fiscal cliff talks, and they will also be studying tomorrow's importa")jé:0@6cj& but josh feinman says the november numbers won't give an accurate picture of the labor market. he's chief economist at d.b. advisors. >> reporter: hi, josh, so you're talking about distortions in that report. tell us more. >> yes, hi, susie. i think that the hurricane sandy may distort the numbers. we've seen it in...
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Dec 22, 2012
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investors were discouraged on the stalemate in the fiscal cliff talks. the market dropped at the open and the selling continued into the close. the s&p 500 traded in a 20 point range. for the week, the dow posted the smallest gains, up just a half of a percent. the nasdaq advanced a little less than 2% and the s&p rose 1%. big trading volume despite many traders already on vacation, it's quadruple witching day, that's when many futures and options contracts expire. nearly two billion shares traded here on the big board. composite volume was more than twice as large. and almost three billion shares traded on the nasdaq. all ten of the s&p sectors moved lower on the selloff, energy fell by more than 1% and so did financials and telecom services that sector was weighed down by big losses in blackberry maker research in motion. more on that in a moment. today's selling came despite some encouraging economic reports. durable goods orders rose 0.7% in november, a slight decline had been expected. personal spending also picked up in november, rising 0.4% of a p
investors were discouraged on the stalemate in the fiscal cliff talks. the market dropped at the open and the selling continued into the close. the s&p 500 traded in a 20 point range. for the week, the dow posted the smallest gains, up just a half of a percent. the nasdaq advanced a little less than 2% and the s&p rose 1%. big trading volume despite many traders already on vacation, it's quadruple witching day, that's when many futures and options contracts expire. nearly two billion...
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." >> susie: the fiscal cliff talks are going nowhere. that's the word from john boehner today. the house speaker characterized the negotiations to avoid huge tax increases and spending cuts at a stalemate. the race to solve the fiscal cliff triggered another round of dramatic sound bites from republicans and president obama. darren gersh has the latest. >> reporter: the president is still pushing to wrap up a deal on the fiscal cliff before christmas and just in case anyone missed that point, he visited a toy factory to urge congress to avoid raising taxes on the middle class. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. a typical middle-class family of four would see their income taxes go up by about $2,200. >> reporter: the president is proposing to raise taxes by $1.6 trillion, while cutting spending by $400 billion. on top of that, mr. obama asked for $50 billion more for infrastructure spending and $140 billion to extend unemployment insurance benefits and the payroll tax cut. republicans literally laughed it off. >> they want.
." >> susie: the fiscal cliff talks are going nowhere. that's the word from john boehner today. the house speaker characterized the negotiations to avoid huge tax increases and spending cuts at a stalemate. the race to solve the fiscal cliff triggered another round of dramatic sound bites from republicans and president obama. darren gersh has the latest. >> reporter: the president is still pushing to wrap up a deal on the fiscal cliff before christmas and just in case anyone...
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Dec 29, 2012
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fiscal cliff talks at the white house end with no deal, but president obama says he's still hopeful and says "we've got to get this done." gold prices pulled back today on worries about the fiscal cliff, will the metal shine in 2013? then cuba, tonight's "market monitor" sees big opportunity on the tiny island when the embargo's lifted. thomas herzfeld, of thomas herzfled advisors joins us. that and more tonight on "n.b.r."! president obama says he's "modestly optimistic" a fiscal deal can be reached in time. he said he's instructed senator harry reid and senator mitch mcconnell to come up with a plan that can pass in congress. his brief comments a short while ago came after a it
fiscal cliff talks at the white house end with no deal, but president obama says he's still hopeful and says "we've got to get this done." gold prices pulled back today on worries about the fiscal cliff, will the metal shine in 2013? then cuba, tonight's "market monitor" sees big opportunity on the tiny island when the embargo's lifted. thomas herzfeld, of thomas herzfled advisors joins us. that and more tonight on "n.b.r."! president obama says he's "modestly...
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Apr 6, 2013
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this is a republican proposal which they pushed during the fiscal cliff talks. the question is going to be will they support additional revenue raisers which the obama administration says are necessary for them to go further on entitlements. this should not be seen as the last offer on entitlement reductions. more to come if we get into real negotiations this spring. >> john, address the whole timetable on this. why is this release of the president's budget so -- we have the house and the senate who have passed their budgets and are we really going to get a deal? >> i don't know if we pe'll get deal, but this is lowering the temperature and part of doing that is for the president to do that himself who is a polarizing figure to step away from the discussion. let the house do its budget which they have done. the senate do their budget which they've done and now the president's trying to come in as peacemaker at the end. that's why they delayed the budget. >> john harwood, thanks very much. >>> following up on a story from a few weeks ago, the federal aviation adm
this is a republican proposal which they pushed during the fiscal cliff talks. the question is going to be will they support additional revenue raisers which the obama administration says are necessary for them to go further on entitlements. this should not be seen as the last offer on entitlement reductions. more to come if we get into real negotiations this spring. >> john, address the whole timetable on this. why is this release of the president's budget so -- we have the house and the...
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. >> tom: optimism that speaker boehner's latest offer could get the fiscal cliff talks moving again, helped stocks move nicely higher: the dow rose 100 points, the nasdaq added 39, the s&p up almost 17 points. but with time running out to reach a deal, what happens on wall street, if we go over the cliff? suzanne pratt reports. >> reporter: one thing is for sure, wall street can count. that means investors know there are just nine trading days left until tax hikes automatically take effect across the nation, and hit americans where it hurts: their wallets. and, investors are also aware there are even fewer days before lawmakers are scheduled to leave on holiday break. despite the ticking clock, many investors remain optimistic there will be a deal between congress and the white house before the ball drops in time square. veteran trader jonathan corpina agrees there will soon be a resolution, but he thinks the news will be a big ho-hum for stocks. >> i think the sentiment of a deal solution is already priced into our market right now. so, what does that really mean. when we get news t
. >> tom: optimism that speaker boehner's latest offer could get the fiscal cliff talks moving again, helped stocks move nicely higher: the dow rose 100 points, the nasdaq added 39, the s&p up almost 17 points. but with time running out to reach a deal, what happens on wall street, if we go over the cliff? suzanne pratt reports. >> reporter: one thing is for sure, wall street can count. that means investors know there are just nine trading days left until tax hikes automatically...
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everybody in washington is talking about the fiscal cliff. the so-called fiscal cliff. they're not talking to each other at the moment. that is what the conversation is going to get to, how do we avoid going over the so-called fiscal cliff? you suggested that the fiscal cliff might be good. i got a chance to go through your book. i understand, i think, why you might feel that way. the book argues that we need disorder to develop. we need disorder in our world to develop. we will come back to the book in a moment. based upon the motion -- that notion, why might the fiscal cliff be a good thing? >> we have been stuck for four years in a state of complacency. nobody wants to do anything about the accumulating problems. everybody knows about the problems. i think the civilization is masking deeper problems. if you let markets give you information, they will give the information. other than artificially prop up everything, like having the federal reserve control prices. this is not a long-term sustainable situation. what i think should happen is -- you would rather fail earl
everybody in washington is talking about the fiscal cliff. the so-called fiscal cliff. they're not talking to each other at the moment. that is what the conversation is going to get to, how do we avoid going over the so-called fiscal cliff? you suggested that the fiscal cliff might be good. i got a chance to go through your book. i understand, i think, why you might feel that way. the book argues that we need disorder to develop. we need disorder in our world to develop. we will come back to...
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but the lack of any fiscal cliff talks worried wall street. the dow jones industrial average lost more than 51 points to close at 13,139. the nasdaq fell eight points to close at 3012. those are some of the day's major stories. now, back to gwen. >> ifill: in egypt, although one side seems to have clearly won, citizens are still awaiting official results of the country's constitutional referendum. as the sun rose over cairo today, opposition activists vowed to hold their ground against the newly approved constitution. >> what we all need as constitution is express the demands of all egyptians. we are here to say that we need constitution for all of us. >> ifill: sunday leaders of the national salvation front warned the document would give too much way to islamic law and curb the rights of women and the christian minority. >> we are committed to continuing our collective peaceful struggle in order to bring down this constitution through legitimate means as soon as possible. because it's a constitution that is not worthy of egyptians. >> ifill:
but the lack of any fiscal cliff talks worried wall street. the dow jones industrial average lost more than 51 points to close at 13,139. the nasdaq fell eight points to close at 3012. those are some of the day's major stories. now, back to gwen. >> ifill: in egypt, although one side seems to have clearly won, citizens are still awaiting official results of the country's constitutional referendum. as the sun rose over cairo today, opposition activists vowed to hold their ground against...
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fiscal cliff talks at the white house end with no deal, but president obama says he's still hopeful and says "we've got to get this done." gold prices pulled back today on worries about the fiscal cliff, will the metal shine in 2013? then cuba, tonight's "market monitor" sees big opportunity on the tiny island when the embargo's lifted. thomas herzfeld, of thomas herzfled advisors joins us. that and more tonight on "n.b.r."! president obama says he's "modestly optimistic" a fiscal deal can be reached in time. he said he's instructed senator harry reid and senator mitch mcconnell to come up with a plan that can pass in congress. his brief comments a short while ago came after a whit
fiscal cliff talks at the white house end with no deal, but president obama says he's still hopeful and says "we've got to get this done." gold prices pulled back today on worries about the fiscal cliff, will the metal shine in 2013? then cuba, tonight's "market monitor" sees big opportunity on the tiny island when the embargo's lifted. thomas herzfeld, of thomas herzfled advisors joins us. that and more tonight on "n.b.r."! president obama says he's "modestly...
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cliff talks. he was a negotiator back in the debt limit talks back in the summer of 2011 as well. this is one of the reasons why you might not see the president nominate the treasury secretary and name his economic team for some time maybe until even they get this fiscal cliff mess behind them because if they nominate jack lou that could tie him up for confirmation hearings and they don't want to risk that. >> rose: they have somebody say this to me when i was down in washington for the kennedy honors, if lyndon johnson was president he would have him what the whitehouse and he would lock the doors and say we're not going to left you out until you get a compromise. when the president hears that kind of talk, how does he respond? >> well i tried to push him on that in the interview. it's pretty striking that just the night before speaker boehner had been to the whitehouse for the annual christmas party. they didn't even exchange any pleasantries are, they didn't have a conversation. it shows you al
cliff talks. he was a negotiator back in the debt limit talks back in the summer of 2011 as well. this is one of the reasons why you might not see the president nominate the treasury secretary and name his economic team for some time maybe until even they get this fiscal cliff mess behind them because if they nominate jack lou that could tie him up for confirmation hearings and they don't want to risk that. >> rose: they have somebody say this to me when i was down in washington for the...
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last-minute talks at the white house over the fiscal cliff ends with no announcement of a deal. a 6-year-old british girl abducted by her father and taken to pakistan is reunited with her mother in the u.k. welcome to "bbc world news." also to come, no where to pray for moslems in athens. and a quite at hollywood that revolution, making big returns to the silver screen
last-minute talks at the white house over the fiscal cliff ends with no announcement of a deal. a 6-year-old british girl abducted by her father and taken to pakistan is reunited with her mother in the u.k. welcome to "bbc world news." also to come, no where to pray for moslems in athens. and a quite at hollywood that revolution, making big returns to the silver screen
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the dow got as high at 80 points, and the more he talked about the fiscal cliff and other issues facing the economy, it went down, down, down, closing down three points. >> tom: any of the enthusiasm that came out when the federal reserve announced it was going to continue to buy bonds slowly deflated throughout the afternoon, the longer the chairman tended to speak. there was less enthusiasm about what the federal reserve is doing. maybe less concern about why the federal reserve is doing it. let's go ahead and take a look at our "market focus." the major stock indices couldn't hold on to their midday gains as the federal reserve's efforts to stimulate the economy couldn't keep buyers enthusiastic. volume was moderate-- 693 million shares on the nasdaq. under 1.8 billion on the nasdaq. the technology sector had the biggest percentage losses, down 0.4%. the telecommunications sector saw the best gains, up 1%. hi-tech storage stocks pressured the tech sector as an analyst raised concerns about competitive risks. the concerns were focused on disk drive maker seagate technology. shares fel
the dow got as high at 80 points, and the more he talked about the fiscal cliff and other issues facing the economy, it went down, down, down, closing down three points. >> tom: any of the enthusiasm that came out when the federal reserve announced it was going to continue to buy bonds slowly deflated throughout the afternoon, the longer the chairman tended to speak. there was less enthusiasm about what the federal reserve is doing. maybe less concern about why the federal reserve is...
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he was one of six governors meeting with president obama today to talk about how the fiscal cliff impacts their states. i asked him what was his message to the president. >> our message was pretty straightforward. we believe that it is important that governors have a seat at the table as the president and leaders in congress are negotiating issues around the fiscal cliff. we think it is really important that they get something done because, obviously, if tax rates go up on middle-class americans come next month, it will be bad for those middle-class americans, it is will be bad for our states, and we're concerned about both the fiscal side and the economic growth side. >> susie: so talk to us a little bit about what kind of deal you would like to see. what were you proposing to the president? >> let's put it this way, if money is just shifted from the federal government to the states, that's not really saving anything. and the president understands that. we think it is really important. recognizing if there are cuts in funds, there ought to be a corresponding reduction in some of the requ
he was one of six governors meeting with president obama today to talk about how the fiscal cliff impacts their states. i asked him what was his message to the president. >> our message was pretty straightforward. we believe that it is important that governors have a seat at the table as the president and leaders in congress are negotiating issues around the fiscal cliff. we think it is really important that they get something done because, obviously, if tax rates go up on middle-class...
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explain that, the fiscal cliff we're talking about. >> taxmageddon. it's so -- there's a very real not just hypothetical governing question that needs to be addressed in the campaign. and there's some hope and belief that the fall will be focused and at least a little bit on how these guys are going to deal with this situation. because enormous questions of fiscal policy. are about to hit us. and what's going to happen is that the bush era tax cuts, which benefit all of us, are about to expire. it's approximately $2,200 tax increase next year. next year for everybody. the payroll tax cut will expire. that's a 2% cut that everybody is receiving right now. and there's a whole bunch of other tax stuff. but there's also $110 billion in immediate spending cuts next year. hatch to the pentagon, half to domestic -- half to the pentagon, half to domestic programs. roll it all together and if they don't do anything, the stalemate that persisted over the budget for last two years doesn't get resolved, you got a $600 billion hit to the economy that many economis
explain that, the fiscal cliff we're talking about. >> taxmageddon. it's so -- there's a very real not just hypothetical governing question that needs to be addressed in the campaign. and there's some hope and belief that the fall will be focused and at least a little bit on how these guys are going to deal with this situation. because enormous questions of fiscal policy. are about to hit us. and what's going to happen is that the bush era tax cuts, which benefit all of us, are about to...
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meantime, congress continues talking about the tax part of the fiscal cliff. this week, a house committee considered limits on tax deductions from charitable donations. american tax paypayers are estimated to have claimed $185 billion in charitable deductions last year. that's the most since before the great recession. there is no complete data for 2011 from the i.r.s. that money represents potentially billions of tax dollars if charitable deductions were limited or eliminated. andrew watt is the president and c.e.o. of the association of fundraising professionals. andrew you testified to that house committee. there already are limits to deducting charitable donations, correct? >> absolutely. >> tom: those limits are set by a percentage of taxable income. is there a better way to do it? >> no i think that's a pretty simple way of doing it and one most people understand. >> tom: it certainly has been the rule for the better part of a couple of generations for american taxpayers. but it begs the question should the government subsidize charitable donations? >> y
meantime, congress continues talking about the tax part of the fiscal cliff. this week, a house committee considered limits on tax deductions from charitable donations. american tax paypayers are estimated to have claimed $185 billion in charitable deductions last year. that's the most since before the great recession. there is no complete data for 2011 from the i.r.s. that money represents potentially billions of tax dollars if charitable deductions were limited or eliminated. andrew watt is...
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. >> today president obama was keen to talk about the fiscal cliff, the combination of tax hikes and spending cuts. mr. obama was also forced to answer questions about the resignation of his cia chief and the events that unfolded in benghazi. >> the president of the united states, reelected and reinvigorated with big plans for his second term. >> i hear you have some questions for me. >> not the questions he might have to imagine a week ago. instead the white house is dealing with not a sex scandal of the cia director. >> i have no evidence at this point that classified information was disclosed. >> should the fbi have told him sooner about the affair? >> i am withholding judgment as to how the entire process surrounding general petraeus up.e of we do not have all the information yet. >> general david petraeus resigned after admitting to an affair with his biographer, house last brother's night. 's file e-mails sent by pawlenty -- hostile emails sent by broadwell. barack obama is desperate to move on, but the message from capitol hill is not so fast. members of congress are troubled
. >> today president obama was keen to talk about the fiscal cliff, the combination of tax hikes and spending cuts. mr. obama was also forced to answer questions about the resignation of his cia chief and the events that unfolded in benghazi. >> the president of the united states, reelected and reinvigorated with big plans for his second term. >> i hear you have some questions for me. >> not the questions he might have to imagine a week ago. instead the white house is...
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darren gersh, "n.b.r.," washington. >> tom: we continue our coverage of the fiscal cliff tomorrow. we talk with the men who led president obama's deficit reduction commission, former senator alan simpson and erskine bowles, about the threat of the cliff. and we'll see the latest new home sales data, and talk housing with analyst megan mcgrath. >> susie: in this back to school season, some advice, and warnings, for kids heading off to college. here's neale godfrey, founder of the children's financial network, with tonight's kids & cash. >> i cringe when i think of kids going off to college with credit cards, but they will. >> reporter: almost 85% of undergrads have cards, and they hold almost five credit cards a piece. they will graduate with an average of $4,000 in credit card debt, not counting student loan debt. instead of a credit card, encourage your college student to get a debit card, which should be connected to a joint checking account that you will oversee. teach your child to budget and make them accountable, to you, to keep track of spending. review this with them on a m
darren gersh, "n.b.r.," washington. >> tom: we continue our coverage of the fiscal cliff tomorrow. we talk with the men who led president obama's deficit reduction commission, former senator alan simpson and erskine bowles, about the threat of the cliff. and we'll see the latest new home sales data, and talk housing with analyst megan mcgrath. >> susie: in this back to school season, some advice, and warnings, for kids heading off to college. here's neale godfrey, founder...
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and even when we were talking about the fiscal cliff and the sequestration, we were talking about sort of this era of stop gap budgeting. where we have these ferocious fights about a tiny little corner over here. it affects people. also people are getting meals on wheels. some cancer patients who are'getting the treatments they need because of the sequestration cuts. but that's still sort of over in the corner. the big questions about entitlements, tax reform, the grand stuff that has to get fixed to transfer this government and this economy from the -- even the new deal era to a more modern era, that conversation just isn't happening. and in part it's because the politicians can't get their act together and also you look at fouling, four fifths of the country doesn't want anyone to touch the entitlement programs. if you aren't touching the entitlement programs and cut as much as you can on everything else, you are stuck. gwen: and part of this argument is this health care problem. the problem with implementing the health care plan which would hit another bump this week. in which the e
and even when we were talking about the fiscal cliff and the sequestration, we were talking about sort of this era of stop gap budgeting. where we have these ferocious fights about a tiny little corner over here. it affects people. also people are getting meals on wheels. some cancer patients who are'getting the treatments they need because of the sequestration cuts. but that's still sort of over in the corner. the big questions about entitlements, tax reform, the grand stuff that has to get...
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. >> brown: washington was a-whirl today with more talk of avoiding the much-discussed fiscal cliff. but as november wound down, the president suggested an agreement on taxes and spending could come in time for the holidays. >> i believe that both parties can agree on a frame work that does that in the coming weeks. in fact my hope is to get this done before christmas. >> you know me, i was born with the glass half full. i'm an optimist. >> brown: hopeful signs emanated from the white house and the capitol today, about getting a deal before the new year brings automatic tax hikes and spending cuts. president obama offered his optimism at an event with middle-class americans who'd be hit by any tax increase. >> i'm glad to see-- if you've been reading the papers lately-- - that more and more republicans in congress seem to be agreeing with this idea that we should have a balanced approach. so if both parties agree we should not raise taxes on middle class families, let's begin our work with where we agree. >> brown: one such lawmaker is republican house member tom cole of oklahoma. th
. >> brown: washington was a-whirl today with more talk of avoiding the much-discussed fiscal cliff. but as november wound down, the president suggested an agreement on taxes and spending could come in time for the holidays. >> i believe that both parties can agree on a frame work that does that in the coming weeks. in fact my hope is to get this done before christmas. >> you know me, i was born with the glass half full. i'm an optimist. >> brown: hopeful signs emanated...
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i think we'll have something done on getting over this fiscal cliff and then they'll talk about a package. >> i think they will not go over the fiscal cliff, probability .7, not one. and they will sketch out a framework for dealing with spring. it is too much work. >> i thought we would solve this all before thanksgiving, but i can see maybe why they will need more time. i want to thank our economists doug holtz-eakin and dean baker. have a good holiday. >> you too. >> susie: our next guest tells investors not to make rash moves in their portfolios, based on guesses about how the fiscal cliff negotiations play out. he's william mcnabb, c.e.o. of vanguard, the nation's largest mutual fund company. so bill, i heard that conversation. i know you've been worried about the fiscal cliff situation. did you feel a little more hopeful today? >> well, i did. and i'm very much in the camp of the two economists who were just on that what need its to happen is a short term deal to get us past year end. and i would like to see it tied to a time frame to strike a longer-term deal that deals with the nat
i think we'll have something done on getting over this fiscal cliff and then they'll talk about a package. >> i think they will not go over the fiscal cliff, probability .7, not one. and they will sketch out a framework for dealing with spring. it is too much work. >> i thought we would solve this all before thanksgiving, but i can see maybe why they will need more time. i want to thank our economists doug holtz-eakin and dean baker. have a good holiday. >> you too. >>...
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. >> susie: and an exclusive interview with two of the biggest names in the fiscal cliff debate. we talk with the co-chairs of the president's deficit reduction panel. >> tom: that and more tonight on nbr! captioning sponsored by wpbt >> tom: we begin tonight with the personal computer. this week, the two biggest makers of p.c.s, and their shareholders, are paying the price of competition from smart phones and tablets. the stocks of hewlett packard and dell trade near multi-year lows after reporting big drops in computer sales. after years of dominance in technology, is the age of the p.c. coming to an end? to get a glimpse of what this business could look like in the future, erika miller headed to pcmag.com. >> reporter: every generation has its computer. this was one of the first ibm personal computers, vintage 1981. remember this imac, also from the '80s? you can bet someday our children will view our sleek 2012 desktops as antiquities as well. it seems hard to believe that the ipad was only introduced two years ago. back then, skeptics predicted it would just be a fad, anothe
. >> susie: and an exclusive interview with two of the biggest names in the fiscal cliff debate. we talk with the co-chairs of the president's deficit reduction panel. >> tom: that and more tonight on nbr! captioning sponsored by wpbt >> tom: we begin tonight with the personal computer. this week, the two biggest makers of p.c.s, and their shareholders, are paying the price of competition from smart phones and tablets. the stocks of hewlett packard and dell trade near...
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at honeywell talk about the lack of real hiring plans, partly because of the fiscal cliff. does that concern you as a stock investor? >> it does. i mean, i think the one thing about being a stock investor, you sort of have to buy with uncertainty and sell on certainty. so it is an opportunity, but i'm not sure it is one that has fully unfolded yet. >> tom: so are you hearing what you want to hear regarding the fiscal cliff? >> no. because i shouldn't be hearing anything. i think when the real negotiations occur, when they really hammer it out, it won't be public. you can't really discuss this sort of thing in public. because if they are going to resolve it, promises will have to be fudged, at best, and that's not something you do right away. you sort of have to go through a process and this is the early stage of that process. >> tom: early stage, and yet five weeks left before we go over that fiscal cliff. and how can investors keep their eye on their investments when there is so much uncertainty. >> it is not even five weeks. i think investors tr to focus on the fundamenta
at honeywell talk about the lack of real hiring plans, partly because of the fiscal cliff. does that concern you as a stock investor? >> it does. i mean, i think the one thing about being a stock investor, you sort of have to buy with uncertainty and sell on certainty. so it is an opportunity, but i'm not sure it is one that has fully unfolded yet. >> tom: so are you hearing what you want to hear regarding the fiscal cliff? >> no. because i shouldn't be hearing anything. i...
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>> first, obviously, the fiscal cliff that you're talking about is the big thing on his plate right now. it will determine so much what happens after that. i think the big possibility that could sort of rival health care which was the big accomplishment in the first term, for all of the problems that he had, it would be immigration reform. he talked a good bit about that in the news conference. it would be a big, big achievement that past presidents have not been able to do. one thing that might help is because of the political reasons we were just talking about, republicans might start getting onboard. we still got a lot of details to go, but that might be the big new goal for that term. gwen: chuck, what president obama will we see in the second term? he is criticized sometimes for being cool and remote, reaching out this weekend, which one? >> he is still no drama obama. so i don't think you'll see a change in personality. one thing he has learned and we're seeing it now in the fiscal cliff, don't sit back and wait for congress. that happened early on in the health care negotiations.
>> first, obviously, the fiscal cliff that you're talking about is the big thing on his plate right now. it will determine so much what happens after that. i think the big possibility that could sort of rival health care which was the big accomplishment in the first term, for all of the problems that he had, it would be immigration reform. he talked a good bit about that in the news conference. it would be a big, big achievement that past presidents have not been able to do. one thing...
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and warren buffett, the oracle of omaha has plenty to say on taxes and the fiscal cliff: we talk with his long-time friend and "fortune" magazine journalist carol loomis. that and more tonight on "n.b.r." some straight talk from president obama tonight about
and warren buffett, the oracle of omaha has plenty to say on taxes and the fiscal cliff: we talk with his long-time friend and "fortune" magazine journalist carol loomis. that and more tonight on "n.b.r." some straight talk from president obama tonight about
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the path away from the fiscal cliff is neither straight nor smooth. talks hit a snag today as both republicans and democrats traded verbal fire over who goes first. republicans said they'd offered up new tax revenues, but have heard nothing from democrats about spending cuts. democrats said republicans were dragging their feet. we begin with darren gersh reporting even a visit by treasury secretary timothy geithner did little to change the mood on capitol hill. >> reporter: house speaker john boehner emerged from his sit- down with the president's negotiating team to declare he was disappointed. two weeks after the election, the speaker said democrats have yet to show what he called "adult leadership." >> right now, all eyes are on the white house. the country doesn't need a victory lap, it needs leadership. it's time for the president and congressional democrats to tell the american people what spending cuts they are really willing to make. >> reporter: that's not how the white house sees it. the administration called the republican position that tax
the path away from the fiscal cliff is neither straight nor smooth. talks hit a snag today as both republicans and democrats traded verbal fire over who goes first. republicans said they'd offered up new tax revenues, but have heard nothing from democrats about spending cuts. democrats said republicans were dragging their feet. we begin with darren gersh reporting even a visit by treasury secretary timothy geithner did little to change the mood on capitol hill. >> reporter: house speaker...
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about the fiscal cliff, declined to talk about-- . >> brown: i didn't think she was talking about all of us. >> us, even after the election we didn't hear about the sequester. then all of a sudden the administration way overplayed its hand by making it seem as if the sky was imminently falling. we may well feel, we probably will feel the impacts of these things not just in the macroeconomy but because it's a small part of overall government spending. but it is a large part of government spending on some particular programs. wait for those airport lines, david's going be on a flight later tonight. i'm sure will be whisked right to the front. so when-- but when, now the president has completely flipped again. he's gone from sky is falling, let's go out and trumpet to the country, how terrible and irresponsible these republicans are to cozying up with them in meal time diplomacy. >> brown: that's where i wanted to go. the president has dinner. he invites 12 republicans to a hotel in washington, neutral territory. what do you make of that? is it useful. >> yeah, first i'm shocked that rut
about the fiscal cliff, declined to talk about-- . >> brown: i didn't think she was talking about all of us. >> us, even after the election we didn't hear about the sequester. then all of a sudden the administration way overplayed its hand by making it seem as if the sky was imminently falling. we may well feel, we probably will feel the impacts of these things not just in the macroeconomy but because it's a small part of overall government spending. but it is a large part of...
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and warren buffett, the oracle of omaha has plenty to say on taxes and the fiscal cliff: we talk with his long-time friend and "fortune" magazine journalist carol loomis. that and more tonight on "n.b.r." some straight talk from president obama tonight about
and warren buffett, the oracle of omaha has plenty to say on taxes and the fiscal cliff: we talk with his long-time friend and "fortune" magazine journalist carol loomis. that and more tonight on "n.b.r." some straight talk from president obama tonight about